♈
Bootcamp-2024
  • Intro
  • 1. Blockchain & Wallet Fundamentals
    • Blockchain Introduction
    • State Machines
    • Cryptography
    • Distributed Networks
    • Game Theory
    • What is Web3
    • MetaMask Wallet Installation
    • Transferring Tokens with MetaMask
  • 2. Smart Contract & Solidity Fundamentals
    • Using Remix
    • Create, compile and publish your first smart contract
    • Interact with already published smart contracts
    • Blockchain Explorer
    • Verify source code on Etherscan
  • 3. Oracles, ERC20 & Chainlink Data Feeds
    • Oracles
    • Create & Deploy ERC20
    • Data Feeds
  • 4. Cross-Chain Tokens With Chainlink CCIP
    • Setting up MetaMask
    • Getting USDC Testnet Tokens
    • Create Smart Contract In Remix
    • Compile and Deploy
    • Approve USDC
    • Send LINK to your Contract
    • Send USDC from Fuji to Sepolia
    • USDC on Sepolia
  • 5. Mentoring Session
  • 6. NFTs & Chainlink Automation
    • NFT Basics
    • Dynamic NFTs
    • Creating an NFT Smart Contract
    • Deploying Your Dynamic NFTs
  • 7. Chainlink CCIP & Cross-Chain NFT dApps
    • Create and deploy CCIP NFT Contracts
    • Mint on Source Chain
    • Fund Contract
    • Mint On Sepolia From Fuji
    • Mint from Destination 2 - Base Sepolia
  • 8. Random Numbers with Chainlink VRF
    • Introduction to Chainlink VRF
    • Hands On Game Using VRF
  • 9. Off-Chain Data with Chainlink Functions
    • Chainlink Functions Playground
    • Setting up MetaMask
    • Remix
    • Functions Subscription
    • Creating The Functions Consumer Contract
    • Sending a Request from Remix
    • City Weather and Examples
    • City Weather on Chainlink Functions
  • 10. Connecting the 🌏 with Chainlink
  • Glossary
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On this page
  • What Are NFTs
  • Difference Between Fungible & Non-Fungible Tokens
  1. 6. NFTs & Chainlink Automation

NFT Basics

In this section we will understand the fundamentals of NFTs.

What Are NFTs

NFTs (also known as Non-Fungible Tokens) are unique cryptographic assets. Unlike Fungible Tokens, NFTs are one-of-a-kind. This means they can’t be replicated or divided into smaller units.

These characteristics mean NFTs can be used to represent various digital assets such as:

  • Identities/Memberships

  • Tickets

  • Real Estate

  • Posts

  • Badges

  • Trading Cards

Difference Between Fungible & Non-Fungible Tokens

Fungible Tokens characteristics:

  • Interchangeability: Each token is identical to another in type and value, similar to fiat currencies (dollar, euro etc.) where each unit is worth the same.

  • Divisibility: Fungible tokens can be divided into smaller units, allowing for transactions of varying sizes and values.

Non-Fungible Tokens characteristics:

  • Uniqueness: Each NFT has distinct properties and cannot be exchanged 1-1 with another NFT.

  • Indivisibility: NFTs can’t be divided into smaller units. They are bought, sold, and owned whole.

NFT Metadata

  • Images

  • Name

  • Attributes

  • Description

  • External URLs

NFT Metadata is commonly stored off-chain using decentralised file storage such as IPFS (InterPlanetary File System). Users can run their own IPFS node and store their images & metadata for their NFTs.

However, to make it more accessible for everyone here are a few alternatives that can make it easier to store metadata without running an IPFS node yourself:

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Last updated 11 months ago

NFTS cannot be copied, substituted, or subdivided (). While fungible tokens are often used as a medium of exchange or value storage (similar to money), NFTs are used to prove ownership or authenticity of a unique item or piece of content.

Metadata provides extra information about an NFT stored in a file. This metadata can be stored both on-chain & off-chain and it is used to provide extra relevant data about the NFT or enhance the asset it is representing. Metadata can include the following:

NFT Marketplaces such as often have their own , which specifies exactly how the Metadata JSON should be formatted.

source
JSON
Opensea
Metadata Standard
Pinata
Infura
Quicknode
NFT.storage
Web3.storage
Thirdweb storage
Opensea NFT, ERC721 Smart Contract, JSON Metadata